Agenda - Council - 12/10/2024 - Laserfiche WebLink

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4.8 Non -Union Post -Employment Healthcare Savings Plan The PEHCSP is an employer -sponsored program that allows employees to invest in a tax -preferred medical savings account while employed by a Minnesota public employer. All non -union employees hired after January 1, 1984, will participate in the post -employment healthcare savings plan, contributing as follows: NON -UNION EMPLOYEES - PERA COORDINATED MEMBERS • GROSS WAGES: Contribute 2% after 5 years of service and beyond. • SICK LEAVE CONVERSION: At the end of the calendar year, contribute all hours greater than 960 at a conversion rate of 2 to 1). • VACATION: Upon separation of employment, contribute unused accrued vacation time as follows: o 50% after 5 years of service through 10 years of service o 75% with 11 years of service through 15 years of service o 100% after 16 years of service and greater • SICK LEAVE SEVERANCE: Upon separation of employment, contribute 100% of unused eligible accrued sick leave. NON -UNION EMPLOYEES - PERA POLICE & FIRE MEMBERS • GROSS WAGES: Contribute 1% for all employees until 5 years prior to normal retirement age (55), at which time ongoing contributions increase to 4%. • SICK LEAVE CONVERSION: At the end of the calendar year, contribute all hours greater than 960 at a conversion rate of 2 to 1). • VACATION: Upon separation of employment, contribute 100% of unused accrued vacation time (regardless of years of service). • SICK LEAVE SEVERANCE: Upon separation of employment, contribute 100% of unused eligible accrued sick leave. Eligible sick leave severance includes Earned Sick and Safe Time It will be defined as a lump -sum payment upon termination of employment, contributed to the PEHCSP, based on the following percentages of the employee's unused, accumulated sick leave: • 33% after 5 years of regular employment • 45% after 10 years of regular employment • 50% after 15 years of regular employment To qualify for eligible ESST severance pay, an employee must leave City employment in "good standing. 4.9 Employee Assistance Program The City offers an Employee Assistance Program (EAP) at no cost to assist employees and their families with a variety of services, including mental health and substance abuse counseling to child care resources, etc. The EAP provides confidential counseling services by highly trained clinicians 181Page